From cool highlands to desert oases, a diverse terrain makes Saudi Arabia a fertile land for many crops

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The oasis of Al-Ahsa in KSA's Eastern Province includes more than 2.5 million palm trees extending over an area of more than 85.4 square kilometers. (SPA)
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An alfalfa farm in Riyadh region's Wadi Ad-Dawasir governorate. (Supplied)
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Updated 23 September 2022
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From cool highlands to desert oases, a diverse terrain makes Saudi Arabia a fertile land for many crops

  • The Kingdom exports more than 300 varieties of date in an industry worth SR7.5 billion
  • The humid air and fertile soil of Jazan, Al-Baha and Abha are ideal for coffee cultivation

JEDDAH: Saudi Arabia has one of the world’s most diverse natural landscapes. With 2 million square kilometers of land, the Kingdom is home to crops ranging from palm trees, fruit and olives to coffee beans, rice, lentils and more.

Palm trees — growth, vitality and prosperity

Although climate change poses a threat to agriculture around the world, the variable climate in different regions of the Kingdom makes it ideal for cultivating palm trees.




Blessed with abundant rainfall, Bisha province in the Kingdom's southwest boasts of fully organic palm trees and free of pesticides. (SPA file photo)

Palm trees symbolize the history, heritage, generosity and hospitality of the Saudi nation and its culture, and are also a natural resource for one of the most popular ancient fruits in the world, dates.

According to the International Dates Council, there are 200 million palm trees worldwide, occupying 1.23 hectares of land and producing 9.5 million tons of dates annually in 40 countries.

The Saudi National Center for Palms and Dates announced recently that according to the International Trade Center, the Kingdom in 2021 ranked first internationally among 113 countries in date exports, with a value with SR1.2 billion ($323.4 million).

The 33 million palm trees in the Kingdom represent 27 percent of the world total, with 1.54 million tons of dates produced annually through 13 regions distributed over 123,000 agricultural holdings.

“This distinguished achievement and the great level of excellence that the Kingdom has reached in date exporting is due to the efforts made throughout the years by the Ministry of Environment, Water and Agriculture,” Bashar Al-Koraie, CEO of the Zadna dates company, told Arab News. 




A general view taken from an airplane on September 11, 2014 shows cultured farms in northern Saudi Arabia. (AFP file)

The ministry also assisted in promoting the Saudi dates brand by improving the quality of production on farms, following best agricultural practices, and adopting quality standards for exportable dates in factories and packing stations.

Saudi Arabia exports over 300 types of dates to different countries, including the US, Europe, East Asia, the MENA region and Gulf states.

Al-Koraie said that the most popular types of dates in the Kingdom are majdool, khudari, khlas, sukkari, shishi, safawi, sufri, sagee, ajwa, barhi and anbara.

The palm and date sector in Saudi Arabia is worth about SR7.5 billion, which is 12 percent of the total agricultural output and 0.4 percent of the total non-oil gross product.

The three most important administrative regions for date production in the Kingdom are located in the center, east and west of the country, represented in the city of Qassim, Al-Ahsa — known as “The Mother of Palm Trees” — and Madinah.




Qassim region in central Saudi Arabia is one of the largest producers of dates. (SPA)

Dates from Qassim province are exported to more than 74 countries around the globe. The region produces more than 300,000 tons of dates annually. 

“The Kingdom’s Vision 2030 gave palm trees and dates sector great attention through its development and sustainability, and it has also implemented programs to develop the sector as it has raised the overall rate of the country’s gross domestic product,” Al-Koraie said.

Jouf is home to more than 984,000 palm trees, with the region producing more than 70,000 tons of dates of different varieties annually.

The trees produce a special type of date, known as “Helwat Al-Jouf,” or “the sweet of Al-Jouf.”

This large, dark and extra-sweet fruit retains its quality and can be stored for up to five years. It is usually served in winter and is used in a variety of traditional Arabian desserts.




Palm dates in the oasis of Madain Saleh in AlUla. (Supplied)

The Ministry of Environment, Water and Agriculture’s palm trees and the date sector are now supported internationally as the Kingdom succeeded in registering dates as an “unusual fruit” with the UN Food and Agriculture Organization. The FAO has also approved Saudi Arabia’s proposal to declare 2027 as the “International Year of Dates.”

MEWA’s palm and date germplasm bank has been listed in Guinness World Records for the largest number of palm varieties, with 127 national types.

To support Saudi palm farmers and help them expand their agricultural businesses, the National Center for Palms and Dates launched a new e-platform, Mozare3, early in August.

The platform aims to be the first and leading supporter in developing and increasing farmers’ production, while contributing to the sustainability of the palm and dates sector.

Coffee beans — the Kingdom’s green gold

Coffee and dates are two iconic products and a famous Saudi combination. Coffee is embedded in the Saudi values of hospitality, music and poetry to such an extent that it is recognized as a core element of Saudi folk heritage.

Saudi Arabia is ranked 50th in the world in terms of the quantity of coffee beans production.

Almohanad Al-Marwai, co-founder and CEO of the Arabian Coffee Institute, told Arab News that the types of coffee beans in the Kingdom are yet to be determined.




A Saudi farmer and his son harvest Khawlani coffee beans at a coffee farm in the southwestern region of Jazan on January 26, 2022. (AFP file)

“The main types are arabica. However, the main varieties are still under DNA studies to determine what the Kingdom produces.”

Coffee crops are found mainly in Jazan, while there are several coffee plantations in Al-Baha and Abha.

The mountainous areas’ humid and cool environment and fertile soil are ideal for coffee cultivation, which depends entirely on seasonal rainwater.

What makes Jazan stand out is the agricultural characteristics of its highlands, which feature terraces for growing coffee.

With 12 years of experience in the coffee industry, Al-Marwai is also a certified Q Arabica grader, Q Processor and an authorized Specialty Coffee Association trainer.

 

Jazan is the only place that uses this coffee farming method in the whole world currently, which plays a major part in the notes and coffee flavor,” Al-Marwai said Jazan’s most popular coffee variety, khawlani, is known as “green gold” and the “pampered tree,” and can be found nestled deep in forests on fertile lands.

“The flavor notes of khawlani usually are more of dried fruit, raisins, dates, spicy notes, cardamom, cinnamon and dark chocolate,” Al-Marwai said.

“The Kingdom produces around 300 tons currently per season. However, it is expected to go up to 3,000 tons in the coming three years, as the government is taking serious action to ensure the quality and the sustainability of coffee production to be self-sufficient,” he added.

“I can see that Al-Baha and Abha have huge potential for cultivating coffee, as they have yielded an amazing coffee crop recently.”

For centuries, the drink has been central to Saudi Arabia’s deep-rooted culture and traditions. Saudi Minister of Culture Prince Badr bin Abdullah bin Farhan announced earlier this year that 2022 will be the “Year of Saudi Coffee.”

According to recent statistics, domestic production of Arabic coffee in Jazan, Al-Baha and Asir has reached 1,810 tons annually, from 2,535 farms and 398,000 coffee trees.

Mango crops flourish in the Kingdom’s southern and western regions 

Jazan is also famous for its mango trees. In 2018, the area was granted a geographical indication — a product name or sign that corresponds to a specific geographical location or origin — for mangoes.

The success of the mango crop in the area is due to its fertile soil and abundant groundwater, which make this tropical tree one of the distinctive fruits of the region.

Through the Sustainable Agricultural Rural Development Program launched by MEWA, the Jazan region has made great strides in developing mango cultivation and expanding production.

The program aims to improve the rural agricultural sector and raise the standard of living of rural families. It also aims to increase production efficiency, improve lifestyle and achieve food security, including supporting mango cultivation.

With over 60 varieties of mangoes, production in the Jazan region witnessed a leap in terms of annual crop quantity from 18,000 tons in 2005 to more than 65,000 tons in 2022, with 19,109 farms and over 1 million mango trees.

The success story of mango cultivation in the area began in 1981, when the Agricultural Research Center, in cooperation with the UN FAO, brought high-quality mango varieties from various countries to Jazan.

Jalan, toumi, kait, balamar, zebda, sensation and sandari are popular varieties, as well as hybrid types from countries including India, Pakistan, Egypt, Kenya, Sudan, Australia and the US.

In the west of the Kingdom, the coastal city of Umluj also includes 24,000 trees that produce 10,000 tons of the best quality mangoes in the Kingdom annually.

The first mango festival in the region was launched in 2021 under the slogan “Umluj mango worth a try.”

Marwan Al-Juhani, owner of Muhammadiah farm in Umluj, told Arab News that watering is crucial for a successful mango crop.

“To get a good mango crop here in Umluj, we need a developed watering system,” he said.

Al-Juhani said that each mango tree has to be at least four years old before producing fruit, and the older it gets, the better the crop.

His farm holds 400 mango trees and is a popular destination for visitors and tourists, who enjoy walking through the trees, picking mangoes and eating them on site.

The Kingdom’s beloved olive basket on the northern borders

With its fertile soil and moderate climate, the northern Jouf region has become Saudi Arabia’s biggest producer of olive oil and is home to vast orchards holding millions of trees.

Jouf also has the largest olive farm in the world, which produces 10,000 tons annually of the finest olive oil.

The use of intensive planting methods makes Jouf’s olive trees distinctive, with 1,600 trees planted in a one-hectare area. The region is home to more than 18 million olive trees. 

Nasser Al-Hamad, owner of the Million Tree Farm, told Arab News: “I am following a high-density groves system in my farm, a more economical and productive model that also delivered high-quality crops and flavor and saves water.”

The most famous olive trees in Jouf are those more compatible with automated harvesting styles, such as arbequina, arbosana, koroneiki and oliana.

Al-Hamad said that every 10 kg of olives yields one liter of high-quality olive oil.

Many orchards have automated irrigation pump systems that require only one worker.

The city of Sakaka holds an annual olive festival, one of the biggest in the Kingdom, to support local farmers, olive crops and olive oil production. 

Diverse climate equals diverse crops

In light of the global fight against climate change, Crown Prince Mohammed bin Salman launched the Saudi Green Initiative in 2021 with more than SR700 billion of investment in the growth of the green economy.

This announcement has highlighted the efforts and objectives that will gradually lead the Kingdom to rely on clean energy, protecting the environment and making it a better place for future generations.




Workers harvest wheat in a field in the northwestern region of Tabuk on April 7, 2016. (AFP file)

As part of the initiative, 450 million trees will be planted, and 8 million hectares of degraded lands rehabilitated by 2030.

Four million mangrove trees have already been planted to contribute to the restoration of the Kingdom’s mangrove forest shoreline.

Over the last 15 to 20 years, the value of including suitable native species in amenity landscape schemes has become much more apparent. Known to be cultivated in the Mediterranean basin, figs are now also cultivated in Saudi Arabia. With demand rising for local produce, farms across the Kingdom are experimenting to see which fruits can be grown. 

So far, six types of figs are grown in every region, and over 26,000 tons of figs are produced annually. 

A total of $15 billion will be invested in AlUla master plan to create the world’s largest oasis, with over 10 million cubic meters of green and open spaces.

AlUla oasis in the northwest of the Kingdom has an ancient heritage that is not limited to the inscriptions on its mountains or erosion on its rocks, but rather embraces a unique nature reflected in its green oasis and rich farms.

According to the Experience AlUla website, the oasis will play a key role in the region’s agricultural prosperity.

The oasis is home to over 200,000 citrus trees that thrive in the AlUla desert. It is surrounded by a tall canopy of green palm trees shading the citrus trees from the summer sun.

Within 20 kilometers of the oasis, 29 varieties of citrus are grown, including jaffa, baladi, and abo surra oranges, torounge, clementines, mandarins, sweet lemons, limes, grapefruits, pomelos, kumquats, citrons and tangerines.

Mubarak Al-Enizi, who has 250 fruit trees in the region, said: “The citrus of AlUla is distinguished from other countries by its quality, taste and variety, and the reason for this is due to the fertility of the land, the abundance of water and the appropriate climate.”

The art of nurturing citrus fruits in AlUla had been passed down over generations. “The knowledge of how to cultivate citrus trees is inherited from our ancestors,” Al-Enizi said.


Muslims start Hajj pilgrimage in Makkah

Updated 59 min 21 sec ago
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Muslims start Hajj pilgrimage in Makkah

  • 1,000 families of Palestinians killed or wounded in Gaza war also arrived to perform Hajj at the invitation of Saudi King Salman
  • This year’s Hajj saw Syrian pilgrims traveling to Makkah on direct flights from Damascus for the first time in more than a decade

JEDDAH: In sweltering temperatures, Muslim pilgrims in Makkah converged on a vast tent camp in the desert on Friday, officially opening the annual Hajj pilgrimage. Ahead of their trip, they circled the Kaaba in the Grand Mosque, Islam’s holiest site.
More than 1.5 million pilgrims from around the world have already amassed in and around Makkah for the Hajj, and the number was still growing as more pilgrims from inside Saudi Arabia joined.  
Saudi authorities expected the number to exceed 2 million this year.
This year’s Hajj came against the backdrop of the raging war in the Gaza Strip between Israel and Palestinian militants, which pushed the Middle East to the brink of a regional war between Israel and its allies on one side and Iran-backed militant groups on the other.
Palestinians in the coastal enclave of Gaza were not able to travel to Makkah for Hajj this year because of the closure of the Rafah crossing in May when Israel extended its ground offensive to the strip’s southern city of Rafah on the border with Egypt.
“We pray for the Muslims, for our country and people, for all the Muslim world, especially for the Palestinian people,” Mohammed Rafeeq, an Indian pilgrim, said as he headed to the tent camp in Mina.

Pilgrims started Hajj by praying Fajr in the Grand Mosque in Makkah. (SPA)

Palestinian authorities said 4,200 pilgrims from the occupied West Bank arrived in Makkah for Hajj. Saudi authorities said 1,000 more from the families of Palestinians killed or wounded in the war in Gaza also arrived to perform Hajj at the invitation of King Salman of Saudi Arabia. The 1,000 invitees were already outside Gaza — mostly in Egypt — before the closure of the Rafah crossing.
“We are deprived of (performing) Hajj because the crossing is closed, and because of the raging wars and destruction,” said Amna Abu Mutlaq, a 75-year-old Palestinian woman in Gaza’s southern city of Khan Younis who had planned to perform Hajj this year but was unable to. “They (Israel) deprived us from everything.”
This year's Hajj also saw Syrian pilgrims traveling to Makkah on direct flights from Damascus for the first time in more than a decade. Syrians in rebel-held areas used to cross the border into neighboring Turkey in their trip to Makkah for Hajj.
“This is the natural thing: Pilgrims go to Hajj directly from their home countries,” said Abdel-Aziz al-Ashqar, a Syrian coordinator of the group of pilgrims who left Damascus this year for Hajj.

Pilgrims started Hajj by praying Fajr in the Grand Mosque in Makkah. (SPA)

The pilgrimage is one of the Five Pillars of Islam, and all Muslims are required to make the five-day Hajj at least once in their lives if they are physically and financially able to do so.
It is a moving spiritual experience for pilgrims who believe it absolves sins and brings them closer to God, while uniting the world’s more than 2 billion Muslims.  
For many Muslims, the Hajj is the only major journey that they make in their lives. Some spend years saving up money and waiting for a permit to embark on the journey in their 50s and 60s after raising their children.
The rituals during the Hajj largely commemorate the Quran’s accounts of Prophet Ibrahim, his son Prophet Ismail and Ismail’s mother Hajar — or Abraham and Ismael as they are named in the Bible.
Male pilgrims wear an ihram, two unstitched sheets of white cloth that resemble a shroud, while women dress in conservative, loose-fitting clothing with headscarves and forgo makeup and perfume. They have been making the ritual circuit around the Kaaba in the seven-minaret Grand Mosque since arriving in Makkah over recent days.
Saudi authorities have adopted security restrictions in and around Makkah, with checkpoints set up on roads leading to the city to prevent those who don’t have Hajj permits from reaching the holy sites.
Security authorities arrested many people who attempted to take pilgrims to Makkah who didn’t have Hajj permits, said Lt. Gen. Muhammad al-Bassami, head of the Hajj Security Committee. Most were expelled from the country, while travel agents faced jail for up to six months, according to the Interior Ministry.

Pilgrims head to Mina to spend the first day of Hajj. (SPA)

Many pilgrims whose documentations were not complete paid fines to be allowed into Makkah.  
On Friday, the pilgrims made their way to Mina, officially opening the Hajj. They then will move for a daylong vigil Saturday on Mount Arafat, a desert hill where the Prophet Muhammad is said to have delivered his final speech, known as the Farewell Sermon. Healthy pilgrims make the trip on foot, others use a bus or train.
The time of year when the Hajj takes place varies, given that it is set for five days in the second week of Dhu al-Hijjah, the last month in the Islamic lunar calendar.
Most of the Hajj rituals are held outdoors with little if any shade. When it falls in the summer months, temperatures can soar to over 40 Celsius. The Health Ministry has cautioned that temperatures at the holy sites could reach 48 Celsius.

Pilgrims head to Mina to spend the first day of Hajj. (SPA)

Many pilgrims carried umbrellas to use under the burning sun, and in Mina charities distributed cold water and cooling stations sprayed pilgrims with water to cool them down. The faithful set up in their tents, resting in the rows of cubicles and praying together to prepare for the coming rituals.
After Saturday’s warship in Arafat, pilgrims will travel a few kilometers to a site known as Muzdalifa to collect pebbles that they will use in the symbolic stoning of pillars representing the devil back in Mina.
Pilgrims then return to Mina for three days, coinciding with the festive Eid al-Adha holiday, when financially able Muslims around the world slaughter livestock and distribute the meat to poor people. Afterward, they return to Makkah for a final circumambulation, known as Farewell Tawaf.
In recent years, the annual pilgrimage has returned to its monumental scale after three years of heavy restrictions because of the coronavirus pandemic. In 2023, more than 1.8 million pilgrims performed Hajj, approaching the level in 2019, when more than 2.4 million participated.


Muslims start Hajj pilgrimage in Makkah

Updated 14 June 2024
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Muslims start Hajj pilgrimage in Makkah

  • 1,000 families of Palestinians killed or wounded in Gaza war also arrived to perform Hajj at the invitation of Saudi King Salman
  • This year's Hajj saw Syrian pilgrims traveling to Makkah on direct flights from Damascus for the first time in more than a decade

In sweltering temperatures, Muslim pilgrims in Makkah converged on a vast tent camp in the desert on Friday, officially opening the annual Hajj pilgrimage. Ahead of their trip, they circled the Kaaba in the Grand Mosque, Islam’s holiest site.
More than 1.5 million pilgrims from around the world have already amassed in and around Makkah for the Hajj, and the number was still growing as more pilgrims from inside Saudi Arabia joined.  
Saudi authorities expected the number to exceed 2 million this year.
This year’s Hajj came against the backdrop of the raging war in the Gaza Strip between Israel and Palestinian militants, which pushed the Middle East to the brink of a regional war between Israel and its allies on one side and Iran-backed militant groups on the other.
Palestinians in the coastal enclave of Gaza were not able to travel to Makkah for Hajj this year because of the closure of the Rafah crossing in May when Israel extended its ground offensive to the strip’s southern city of Rafah on the border with Egypt.
“We pray for the Muslims, for our country and people, for all the Muslim world, especially for the Palestinian people,” Mohammed Rafeeq, an Indian pilgrim, said as he headed to the tent camp in Mina.

Pilgrims started Hajj by praying Fajr in the Grand Mosque in Makkah. (SPA)

Palestinian authorities said 4,200 pilgrims from the occupied West Bank arrived in Makkah for Hajj. Saudi authorities said 1,000 more from the families of Palestinians killed or wounded in the war in Gaza also arrived to perform Hajj at the invitation of King Salman of Saudi Arabia. The 1,000 invitees were already outside Gaza — mostly in Egypt — before the closure of the Rafah crossing.
“We are deprived of (performing) Hajj because the crossing is closed, and because of the raging wars and destruction,” said Amna Abu Mutlaq, a 75-year-old Palestinian woman in Gaza’s southern city of Khan Younis who had planned to perform Hajj this year but was unable to. “They (Israel) deprived us from everything.”
This year's Hajj also saw Syrian pilgrims traveling to Makkah on direct flights from Damascus for the first time in more than a decade. Syrians in rebel-held areas used to cross the border into neighboring Turkey in their trip to Makkah for Hajj.
“This is the natural thing: Pilgrims go to Hajj directly from their home countries,” said Abdel-Aziz al-Ashqar, a Syrian coordinator of the group of pilgrims who left Damascus this year for Hajj.

Pilgrims started Hajj by praying Fajr in the Grand Mosque in Makkah. (SPA)

The pilgrimage is one of the Five Pillars of Islam, and all Muslims are required to make the five-day Hajj at least once in their lives if they are physically and financially able to do so.
It is a moving spiritual experience for pilgrims who believe it absolves sins and brings them closer to God, while uniting the world’s more than 2 billion Muslims.  
For many Muslims, the Hajj is the only major journey that they make in their lives. Some spend years saving up money and waiting for a permit to embark on the journey in their 50s and 60s after raising their children.
The rituals during the Hajj largely commemorate the Quran’s accounts of Prophet Ibrahim, his son Prophet Ismail and Ismail’s mother Hajar — or Abraham and Ismael as they are named in the Bible.
Male pilgrims wear an ihram, two unstitched sheets of white cloth that resemble a shroud, while women dress in conservative, loose-fitting clothing with headscarves and forgo makeup and perfume. They have been making the ritual circuit around the Kaaba in the seven-minaret Grand Mosque since arriving in Makkah over recent days.
Saudi authorities have adopted security restrictions in and around Makkah, with checkpoints set up on roads leading to the city to prevent those who don’t have Hajj permits from reaching the holy sites.
Security authorities arrested many people who attempted to take pilgrims to Makkah who didn’t have Hajj permits, said Lt. Gen. Muhammad al-Bassami, head of the Hajj Security Committee. Most were expelled from the country, while travel agents faced jail for up to six months, according to the Interior Ministry.

Pilgrims head to Mina to spend the first day of Hajj. (SPA)

Many pilgrims whose documentations were not complete paid fines to be allowed into Makkah.  
On Friday, the pilgrims made their way to Mina, officially opening the Hajj. They then will move for a daylong vigil Saturday on Mount Arafat, a desert hill where the Prophet Muhammad is said to have delivered his final speech, known as the Farewell Sermon. Healthy pilgrims make the trip on foot, others use a bus or train.
The time of year when the Hajj takes place varies, given that it is set for five days in the second week of Dhu al-Hijjah, the last month in the Islamic lunar calendar.
Most of the Hajj rituals are held outdoors with little if any shade. When it falls in the summer months, temperatures can soar to over 40 Celsius. The Health Ministry has cautioned that temperatures at the holy sites could reach 48 Celsius.

Pilgrims head to Mina to spend the first day of Hajj. (SPA)

Many pilgrims carried umbrellas to use under the burning sun, and in Mina charities distributed cold water and cooling stations sprayed pilgrims with water to cool them down. The faithful set up in their tents, resting in the rows of cubicles and praying together to prepare for the coming rituals.
After Saturday’s warship in Arafat, pilgrims will travel a few kilometers to a site known as Muzdalifa to collect pebbles that they will use in the symbolic stoning of pillars representing the devil back in Mina.
Pilgrims then return to Mina for three days, coinciding with the festive Eid al-Adha holiday, when financially able Muslims around the world slaughter livestock and distribute the meat to poor people. Afterward, they return to Makkah for a final circumambulation, known as Farewell Tawaf.
In recent years, the annual pilgrimage has returned to its monumental scale after three years of heavy restrictions because of the coronavirus pandemic. In 2023, more than 1.8 million pilgrims performed Hajj, approaching the level in 2019, when more than 2.4 million participated.


More than 35 million bottles of Zamzam water delivered to pilgrims

Updated 14 June 2024
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More than 35 million bottles of Zamzam water delivered to pilgrims

  • The gesture is part of ongoing efforts to ensure pilgrims have easy access to the sacred water throughout their Hajj journey

RIYADH: Al-Zamazma Company has distributed more than 35 million bottles of Zamzam water to residences and reception centers across Makkah, reported Saudi Press Agency on Friday.

The gesture is part of ongoing efforts to ensure pilgrims have easy access to the sacred water throughout their Hajj journey.

Yasser bin Sulaiman Shushu, board member of Al-Zamazma Company, praised the dedication of the teams which delivered the water.

Distribution is via the Zamzam digital platform, which integrates with the Ministry of Hajj and Umrah’s Nusuk platform, he said.


KSrelief delivers 25 tonnes of dates to World Food Programme in Guinea

Updated 14 June 2024
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KSrelief delivers 25 tonnes of dates to World Food Programme in Guinea

RIYADH: Saudi aid agency KSrelief has delivered 25 tonnes of dates to the World Food Programme’s office in Guinea, reported the Saudi Press Agency.

The dates were delivered in the presence of Saudi Ambassador Fahd bin Eid Al-Rashidi and representatives of the aid agency at WFP headquarters in Conakry, the country’s capital.

The WFP delegate in Conakry, Hyoung-Joon Lim, received the shipment on Thursday.


10 investors convicted for violating Saudi stock market rules

Updated 14 June 2024
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10 investors convicted for violating Saudi stock market rules

  • 1 imprisoned, all to pay total of $27.1m in fines, compensation
  • Manipulated share prices with false statements of firm’s health

RIYADH:Ten investors have been convicted of violating the Kingdom’s Capital Market Law and ordered to pay the government a total of $27.1 million in fines and compensation for losses, the Saudi Press Agency reported on Thursday.

The Appeal Committee for Resolution of Securities Disputes, or ACRSD, sentenced one of the individuals to imprisonment, the SPA report said. The “final decision” was issued by the ACRSD on Dec. 24, 2023.

The amount of $27.1 million comprised SR670,000 in fines and SR101 million as compensation for losses resulting from the violations committed in their investment portfolios, the report added.

The convictions, which included bans on trading for between one and two years, were announced online in detail by the ACRSD and the Capital Market Authority. According to the ACRSD statement, cases were filed against the 10 investors after referral by the CMA.

Several of the perpetrators had “illegally” disclosed internal information related to the financial position of Abdullah A.M. Al-Khodari & Sons Co. before it was made available to the public.

They had also falsely boosted the value of the firm to manipulate the share price and lure in unsuspecting investors.

In a statement posted on its website and on X, the CMA said: “One of the (convicted) was held responsible for making an incorrect statement in the announcement published by a listed company in the capital market.

“This was done to affect the price of the security or to urge others to purchase the security, in addition to his responsibility for neglecting to disclose essential developments in the company.”

In addition, others “engaged in trading based on the illegally disclosed internal information, intending to benefit from it before it was announced and made available to the general public.”

Named in the ruling were Mish’al bin Abdullah bin Abdulmohsen Alkhudari, Naif bin Abdullah bin Abdulmohsen Alali, Abdulaziz bin Abdullah bin Abdulmohsen Alkhudari, Ghada bint Abdullah bin Abdulmohsen Alkhudari, and Sami bin Abdullah bin Abdulmohsen Alkhudari.

The others named were Fawaz bin Abdullah bin Abdulmohsen Alkhudari, Jameel bin Abdullah bin Abdulmohsen Alkhudari, Ali bin Abdullah bin Abdulmohsen Alkhudari, Fawzi bin Abdullah bin Abdulmohsen Alali, and Fawzia bint Abdullah bin Abdulmohsen Alali.

Fawaz bin Abdullah bin Abdulmohsen Alkhudari was ordered to pay the CMA SR50.5 million because of the violations he committed in his investment portfolio.

The others were fined sums between SR100,000 and SR12 million.

Investors who had lost money have been urged to file claims for compensation, the SPA stated.